Trump Backers Seek to Raise $15M at Bitcoin Conference in Nashville
- Bitcoin Magazine CEO is committed to driving a multimillion-dollar fundraiser for Trump.
- The CEO reportedly made the promise at a past meeting with Trump and his campaign team.
- Some observers are questioning Trump’s sudden soft spot for crypto.
Bitcoin Magazine CEO David Bailey has reportedly promised to drive a multimillion-dollar fundraiser for Donald Trump at the Bitcoin Conference in Nashville later this month.
Reports of Donald Trump’s Bitcoin conference participation first emerged in June and were confirmed by DailyCoin last week. Bailey recently said that the presidential hopeful was in “good spirits and excited” to speak at the conference after surviving an assassination attempt on Saturday.
$15m Fundraise for Trump
The Washington Post reported on July 15 that Bailey committed to helping Trump raise $15 million from donors during the Nashville Bitcoin Conference, scheduled for July 25 through July 27.
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The report, citing people familiar with the matter, said Bailey sold the fundraiser idea to Trump senior adviser Vince Haley over a dinner “last month,” during which the crypto entrepreneur also pitched several digital asset ideas.
Trump’s presence at the conference is noteworthy given his previous skepticism towards Bitcoin and other cryptos. During his last term in office, Trump said the idea of crypto was a “scam” and a “disaster waiting to happen.”
But even with the about-face, observers suggest that Donald Trump’s friendly Bitcoin stance is driven by the upcoming elections.
Courting Crypto for Votes or Policy Change?
The report, quoting his advisers, stated that Trump knew “very little” about crypto until the donors approached him. Two donors who had conversations with the presidential hopeful acknowledged that he “didn’t seem to know the intricacies of cryptocurrency” despite pledging support for the industry.
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Biographer Tim O’Brien said that Donald Trump’s Bitcoin and crypto shift isn’t out of the ordinary, as the former president has “always been opportunistic about policy.”
Read why Solana ETF fate hinges on Trump and Biden:
How Solana’s ETF Fate Hinges on Trump and Biden
Stay updated on Kraken founder’s donation to Trump:
Kraken Founder’s $1M Trump Donation Gets Mixed Response on X
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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